Hoskinson on Why Why ‘Cardano Is Probably Going To Become the Biggest Cryptocurrency in the World’

During his speech at the Rare Evo 2023 convention, Charles Hoskinson, the Co-Founder and CEO of IOG (Input Output Global), the company behind Cardano’s research and development, made a bold prediction.

Hoskinson said:

“So, that is our challenge, and this is why I think that Cardano is probably going to become the biggest cryptocurrency in the world. I think that it’s going to become more than just a cryptocurrency. I think it’s going to become the backbone of a new digital nation, a new society—a place where we can finally begin to trust each other again, where we move from ‘don’t be evil’ to ‘can’t be evil.“

Hoskinson’s confidence in Cardano’s future is rooted in several factors. He believes that the platform’s focus on sustainability, scalability, and interoperability sets it apart from competitors like Bitcoin and Ethereum. Cardano’s unique architecture, which employs a layered approach separating the settlement and computation layers, allows for greater flexibility and efficiency.

One of the key developments that Hoskinson highlighted was the Alonzo upgrade, which introduced smart contracts to the Cardano ecosystem. This addition has opened the door for decentralized applications (dApps) and decentralized finance (DeFi) projects, expanding Cardano’s utility and potential market reach.

Hoskinson also emphasized Cardano’s ongoing projects in Africa, particularly in Ethiopia. He sees emerging markets as a significant opportunity for blockchain technology to make a real-world impact. By focusing on these markets, Cardano aims to solve problems that are less prevalent in developed countries, such as identity verification and supply chain transparency.

https://youtube.com/watch?v=2E_EOuejqVA%3Fstart%3D713%26feature%3Doembed

While speaking at a panel at the same event, Hoskinson discusses the importance of attracting talent to the United States, particularly in the field of decentralized technologies. He talks about how the U.S. has historically been a hub for innovation and technological advancement, citing examples like the invention of the internet, Bell Labs, fiber optics, the C programming language, and Unix.

Hoskinson emphasizes that the U.S. was able to achieve these milestones not because everyone in the country was a genius, but because it attracted geniuses from around the world. He points out that many of the country’s most successful businesses and scientific achievements were made possible by immigrants and scientists who came from other countries. For example, he mentions the Manhattan Project and how the U.S. was able to develop the atomic bomb because it welcomed scientists who had been expelled from Germany.

However, Hoskinson expresses concern that recent policies and attitudes are sending a message that talent is no longer welcome in the U.S. He warns that this could have long-term consequences, not just in terms of losing a few good businesses, but in losing an entire generation of minds focused on decentralized technologies. He suggests that this could impact how these technologies are applied in various aspects of life.

https://youtube.com/watch?v=tPyLt9DZVgQ%3Ffeature%3Doembed

Featured Image Credit: Photo / illustration by Traxer via Unsplash

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